PLEASE ANSWER #9 - #12 ONLY! THANK YOU!

ADJUSTING ENTRIES prepare the adjusting entries for the following independent cases on December 31, 2021, unless the transaction provides another year-end. Omit explanation. 1. Arizona Restaurant holds a 150-day 18% note for P75,000 dated September 2, 2021. The principal amount and interest on the note are collectible upon maturity. 2. On October 15, 2021, Colorado Janitorial Services borrowed money from the bank amounting to P180,000 by issuing a 6-month 15% note for the amount. Both principal amount and interest are to be paid upon maturity of the note. 3. Florida Telecommunications incurs salaries for its 18 contractual employees at the rate of P750 per day/employee. Salaries have not yet been paid for 4 days as of December 31, 2021. 4. Georgia People's Inn charges its tenants the following rates: P500 per day for transient occupants and P5,000 per month for the monthly tenants. As of December 31, 2021, the firm has not received yet the payment of five (5) transient occupants for the period from December 18-31, 2021. 5. Hawaii Catering Services is entitled to a 15% commission which is always received on the 5th day following the month of sale, based on its monthly sale of the products of Gourmet Corporation. Sales of Pollux of Gourmet's products for the last two months of 2021 are as follows: November, P375,000; December, P420,000. 6. Indiana Company received advance rental for 30 months amounting to P168,000 to take effect starting March 15, 2021. The amount was credited to a liability account. 7. Louisiana Photocopying Center's Office Supplies on January 1, 2021 has a balance of P7,500. Purchases of supplies during the year amounted to P35,510 while return of defective supplies amounted to P4,250. At year end, supplies worth P8,760 remain unused. 8. Prepaid Advertising for P180,000 was debited by Maryland Hillside Hotel on May 1, 2021 for a 2-year advertising contract. 9. Hiligaynon Magazine credited Unearned Subscription for P80,000 representing advance collection during the year from subscribers of its monthly magazine. As of the end of the year, 60% of the amount has already been earned. ADJUSTING ENTRIES prepare the adjusting entries for the following independent cases on December 31, 2021, unless the transaction provides another year-end. Omit explanation. 10. Nebraska Landscaping Services paid in advance the interest on its 120-day 12% note for P48,000 issued to a creditor on January 18, 2021 and debited the amount to Prepaid Interest. The firm prepares its financial statements on March 31 of every fiscal year. 11. Ohio Tailoring bought a brand new sewing machine on June 15, 2021 for P148,000. The asset has an estimated useful life of 10 years and salvage value of 10% of the purchase price. 12. Texas Printing Shop bought a printing machine on March 31, 2021 for P180,000. On September 1, 2021, the firm bought additional two printing machines at P150,000 each. It is the policy of the firm to depreciate its fixed assets at an annual depreciation rate of 20% with salvage value of 10% of original cost. 13. West Virginia Urban Cable estimates loss on accounts at 10% of Accounts Receivable. As of December 31, 2021, its total accounts receivable amounts to P320,000 and the balance of the allowance for doubtful accounts amounts to P25,000 before adjustment. 14. Missouri General Services has P85,000 outstanding customer accounts and allowance for doubtful accounts of P4,250 on January 1, 2021. During the year, the firm rendered P567,800 worth of services, 25% of which is on cash basis. It also collected P324,550 during the year. The company estimates loss on accounts at 5% of year-end accounts receivable balance. 15. Venus Beauty Parlor has not yet paid the following expenses at year-end: MERALCO, P37,400; Maynilad, P15,600; and PLDT, P7,500